The International Agency for Research on Cancer (IARC) estimates that the number of new cancer cases in Asia, Europe, North America, Latin America and Caribbean, Africa, and Oceania will surge from 9,503,710 in 2020 to 15,130,778 by 2040, 4,398,443 in 2020 to 5,323,141 by 2040, 2,556,862 in 2020 to 3,525,597 by 2040, 1,470,274 in 2020 to 2,435,315 by 2040, 1,109,209 in 2020 to 2,097,365 by 2040, and 254,291 in 2020 to 375,744 by 2040, respectively.
Besides, the mounting healthcare spending will also encourage the use of transradial access devices in the foreseeable future. According to the World Health Organization’s Global Health Expenditure Database, the global health expenditure per capita surged from $1,064.094 in 2017 to 1,110.268 in 2018. Further, the Organization for Economic Co-operation and Development states that the governments of Australia, Canada, France, Japan, and the Netherlands spent AUD 119,068.3 million, CAD 169,184.6 million, EUR 220,779.3 million, JPY 50,079,461.0 million, and EUR 63,754.0 million, respectively, on healthcare in 2018.
Hospitals and clinics and ambulatory care centers (ACCs) use accessories, catheters, guidewires, and sheaths and sheath introducers on elderly patients and high-risk patients, such as cancer patients, for blood transfusion, drug administration, diagnostics and testing, and fluid and nutrition administration. In the coming years, catheters will be used in enormous quantities, due to the rising cases of coronary artery diseases. For instance, the CDC states that approximately 18.2 million adults aged 20 years and above in America were living with coronary artery disease in 2019.
According to P&S Intelligence, the European region led the transradial access devices market in the preceding years, due to the widescale establishment of outpatient clinics performing transradial intervention with the same-day discharge facility. Healthcare facilities in the region have largely accepted TRI as a default strategy for percutaneous coronary interventions. In the coming years, the U.S., Japan, and China will adopt a significant quantity of transradial access devices, due to the high burden of cancer and the presence of well-developed healthcare infrastructure in these countries.
Thus, the increasing requirement for chemotherapy and the growing elderly population will propel the use of transradial access devices, worldwide.
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